NEW YORK, Aug. 12, 2016 (GLOBE NEWSWIRE) -- Greystone Development, a New York-based real estate development company, in a joint venture with Prime Rok Real Estate, a Midtown-based developer, today revealed the proposed plans for transforming landmarked Beaux-Arts building 164 West 74th Street to residential condominiums. Located on 74th Street between Amsterdam and Columbus Avenues, the eight-story building is comprised of approximately 30,000 gross square feet.

Greystone Development carefully assembled a team of experts to transform the unique and notable property, with design efforts led by esteemed Architect Barry Rice. This is Rice’s second collaboration with Greystone. Interior Designer Maureen McDermott of Winter McDermott Design worked in collaboration with Rice, and was tasked with creating a vision for the interior suitable for the historic building. Greystone Development has also tapped Stribling Marketing Associates to exclusively handle the sales efforts for the building. Alexa Lambert will head the sales effort, bringing decades of experience in new development uptown. Stribling Marketing Associates will collaborate with Greystone Development Marketing for the marketing of the project.

The existing façade is reminiscent of turn-of-the-century architecture in Europe, “La Belle Époque”. The proposed plan illustrates a south-facing, rear façade, inspired by the Grand Courtyards of Europe, as well as many notable Upper West Side Residential Properties. It will take a chevron shape, have a steel frame and be further articulated with Juliet balconies and terraces, chosen for both form and function – the design will immerse the residences in light and air. The balconies, railings and windows will be clad in metal, which is a familiar element in the neighborhood and recalls the Upper West Side’s neoclassical aesthetic.

This expert team of Winter McDermott Design and Barry Rice Architects has successfully taken 164 West 74th street into the current century, giving the property a contemporary feel, while also maintaining the “fin de siècle”. This will be experienced throughout the building as the lobby floor reinterprets the Versailles courtyard.

“We plan to renew this exquisite building and celebrate its original glory,” Rice stated. “We chose materials that are contemporary and contextual to the Upper West Side and also rooted in the original Beaux-Arts period. This has been a meticulous exploration into the original turn of the century architecture as sources for inspiration and reference. The result will be a beautiful, classically-inspired building that suits contemporary living.”

For the proposed interior design, Maureen McDermott of Winter McDermott Design selected a palette of materials that reflects the same genre and caliber of the materials used in the original building. The planned interiors are contemporary, but with traditional roots that pay respect to the building’s rich history.

“164 West 74th Street is similar to many of my other residential projects where the exterior is classic and traditional, but the interior is contemporary. For me, it’s the constant study of the traditional and the contemporary that creates an exciting dynamic,” Maureen McDermott stated. “Thus, resulting in a home with modern conveniences with but with sophisticated detailing, a home that feels bespoke and singular.”

Maureen McDermott has extensive experience incorporating architectural elements into her interior designs. She previously worked for Vicente Wolf Associates on the revitalization of the historic 15 Union Square West, where seamlessly incorporating original elements of the building into the design was of the utmost importance.

“We are very excited to collaborate with this team of experts. Each member brings a high-level of knowledge and expertise to the development,” said Jeffrey Simpson, head of Greystone Development. “We look forward to transforming this unique and historically rich building into thoughtfully designed residences that are fit for modern dwellers, while still maintaining the classic elegance of the Upper West Side architecture.”

About Greystone Development Greystone is a real estate lending, investment and advisory company headquartered in New York. Greystone Development, its development group, creates boutique luxury rental and condominium residences and prime quality commercial spaces in gateway cities including New York City, Miami and Palo Alto. For more information, visit www.greystonedevelopment.com

About Prime Rok Real Estate LLCAfshin Hedvat is Principal of Prime Rok Real Estate LLC. Prime Rok is a Manhattan-based commercial real estate development and investment firm, focusing primarily on the opportunistic acquisition and development of residential and commercial assets. Afshin has been a transformative figure in the New York real estate market over the last decade and continues to change the New York landscape with his visionary developments. With over 500,000 square feet of commercial property under management, Prime Rok has become a quiet force in the New York real estate market.

About Barry Rice ArchitectsBarry Rice Architects provides the highest quality design services for developers and institutions in New York’s rarefied and competitive real estate market. The firm, started in 2000, is well-schooled in architectural history at his practice, giving meticulous attention to all project aspects. Barry is seasoned in building in landmarked districts and adaptive reuse of historic structures. His firm converted the upper floors of the Brooklyn Trust Company Building, and an individual landmarked building in Brooklyn Heights into a condominium. His current buildings include a new 16 story classically inspired residential tower at 1110 Park Avenue and the new bronze and brick clad co-op building at 100 Barrow Street in the Greenwich Village Historic district. Other notable properties include: 180 East 93rd Street, 12 East 96th Street, 823 Park Avenue and 40 East 72nd Street.

About Winter McDermott DesignWinter McDermott is a Hamptons NY Interior Design Firm specializing in high-end residential spaces. Created by Maureen McDermott, the firm seeks to bring a fresh and unique modern design to the Hamptons. A full range of interior design services including decorative services as well as architectural design and construction management is offered. Maureen, a graduate of New York School of Interior Design, started her career working for an architectural firm specializing in Broadway Theatre Restoration. She then shifted her career to focus on residential design. Most recently she completed a newly built 7,000+ sq.ft. house and is currently working on several projects on the East End.

About Stribling Marketing AssociatesStribling Marketing Associates is one of the most respected and successful development marketing groups in Manhattan, specializing in consulting, marketing and sales of new developments and conversions. With over twenty-five years of experience, the Stribling Marketing Associates team has represented some of Manhattan’s most architecturally significant properties, including The Plaza Private Residences, Philip House at 141 East 88th Street, 252 East 57th Street, 130 West 12th Street, Devonshire House at 28 East 10th Street, 210 West 77th Street, 221 West 77th Street, 360 Central Park West, 151 East 78th Street, The Shephard at 275 West 10th Street, 508 West 24th Street, One Vandam, 211 Elizabeth Street and numerous projects in Brooklyn.